Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1887-03-10


option on the controlling ;nteraAes :, .ho
IaI'sno5e and Ohio railroad recently
obtained by Alfred Sully. on behalf II
syndicate OF New York capitalists
was not exercised YESTERDAY n i
probable that the privilege will no nsod
within few days, and Il The
terms for subscription by the syndicate
can be arranged chaneeof ownersh;n
may be officially announced today Il
Is understood that the contract with
resident Garrett provides for the
transfer by him to the syndicate OF
oU,OOO shares of Baltimore and Ohio
stock at $500. The amount of pur-
cnase-moDey is therefore GIG. DOC. 600. of
winch Garrett insists upon the payment
IN cash Of $1,000, 00O The remainino
$lO,OOO,OOO may bepaid at any time with
IN one year, but until the final payment
mas been made theentire block of stock
IL 10 be held in trust under certain con-
dluons, which have not been made pub
nc. Nothing in these terms is likely TO
interfere with the accomplishment of
the general purpose but, in the
mean time, persons acknowledged 10
be largely interested in the plan
are disposed TO withhold information in
regard to the details Of the arrange
ment. The syndicate comprises Calvin
,. Brlce and General Samuel Thomas, of
the East Tennessee; George s. Scott.
formerly president of the Richmond
and Danville F; George K. Baker and II.
G. Fahnstock, president and vice-presi.
dent of the First National Bank, and
their associates in southern railroad
enterprises, in addition to Mr.. Sully
and Austin COrbin.
ROBERT GARRETT CAUTIOUS.
BALTIMORE, Mp, March 9.-Robert
Garrett, president of the Baltimore
and Ohio Railroad Company, was seen
to-day, but had nothing to say in re-
gard to the reported arrangements for
transfer OF the control of that road.
Tie New York Times containing u
statement which appears authentic has
created a sensation here. The city as
corporation is largely interested
in the Baltimore and Ohio rail
road, and there are private inter
ests which are opposed to the control
of the road going out of Baltimore
hands. The Baltimore and Ohio road
has been looked upon as a Baltimore
enterprise, and while Garrett has pre-
served reticence as to everything that
has been rumOred there are many who
fear there is truth in the statements
published in the Times. There is a
conviction here that if the road shall
pass into other hands the express and
telegraph systems will go with it. The
matter is discussed on the Exchanges
and street-corners, and while some APP
prove many condemn the action.
"wE ARE IN NEW YORK
Robert Garrett has been seen since
l o'clock to-day, and the statement in
the New York Times was read by him.
He still persisted that he has nothing
to say about the rumored deal. 1t is
stated, however, 10y one to whom Gar
rett talked that he used the ex.
preston, eve are in New York.
The excitement increases here be-
cause of the refusal of Garrett
to make any communication in regard
to the matter The most careful in
quiry cannot discover that the city au-
thorities have been consulted, though
the city owns more than one fifth of the
entire stock of the Baltimore and Ohio
railroad. The city, with the Johns
Hopkins University and the Garrett
family, own majority of the stock. In.
Geographic circles there appears as
much ignorance of what has been going
on as elsewhere.
no CONTRACT.
While tonight the general impress
sion here is that some sort of arrange
ment has been made for the surrender
of the control of the Baltimore and
Ohio railroad, it is positively stated by
a gentleman who is near TO Mr.. Gar
rttt that no agreement or contract ex
lists for such transfer. He at the
same time stated that a syndicate
will probably be formed, OF which
Mr.. Garrett will be a member, for the
working of such railroad system as
is spoken of. He further said there Is
no law to prevent the voting by proxy
of shares owned by the Garrett family,
and enough of others to make ma
iority of the stock for any deal the road
authorities may deem desirable. He
also said that $3.50 per share had before
been offered and refused for the trans
fer Of q majority of the stock. 1t was
said this evening thatan offer of 6,OOO,-
600 had been made for the Baltimore
and Ohio's telegraph system and
both of which had been declined.
The determined refusal of Mr. Gar
rett to confirm or denyany of the state
ments which have been made leave the
people in anxiety. Those who have
always been staunch friends of the
Baltimore and Ohio road will not be-
lieve that any transfer OF the control of
the road has been or will be made.
EXPRESS AND PALACE-CAR INTERESTS.
PHILADELPHIA, March 9.-The Re
cord tomorrow, in speaking of the
Baltimore and Ohio "deal, will say
An important meeting of the Adams
Express officials and others was held in
this city yesterday, and it was learned
that the following interests were rep
resented. Western Union Telegraph
Company, Adams Express Com
pany, and Pullman PaIace-Car
Company. These corporations are
stated to be interested in the deal, and
will. as their share in it, take the eX-
press, telegraphic, and palace.car privi-
ieges of the Baltimore and OHIO system
thus removing the most Formidable OPP
position that these different interests
now have, by doing which they will
ultimately get back all they will invest
in the deal.
TEE DEAL CONFIRMED.